FORT MYERS, Florida – In partnership with the Fort Myers Community Redevelopment Agency, Catalyst Community Capital closed loans with Outten Financial, LLC for the construction of two duplex projects in the MLK Area redevelopment district.
The transaction is part of an effort by the Fort Myers CRA to create and preserve much needed affordable housing in the area. As part of the loan requirements, the property will restrict rent limits for the next ten years to assist in meeting the growing demand for affordable housing in Fort Myers.
“Catalyst is pleased to embark on this Project with Outten Financial and Hard Hats Construction. Outten Financial brings knowledge and expertise in the construction space, as well as an excellent feel for the wonderful potential of the MLK district. Catalyst looks forward to partnering with them on this and other projects that allow this community to meet the growing need of affordable housing.” Michael Maguire, COO of Catalyst remarked.
Catalyst Community Capital, Inc. is a 501 (c)(3) with a mission to create jobs and improve the lives of those living in low- and moderate-income communities and under-served populations. Catalyst supports economic growth and revitalizes low-income communities by increasing the flow of capital to small businesses and mission-driven developers and organizations. The Catalyst team brings together a deep understanding of finance, business acumen, and a host of other resources to address economic and social issues.
For further information or inquiries, please visit www.catalytsimpact.org or call 813-313-3931.
Catalyst Community Capital
July 18, 2022
For Immediate Release